Published on 4/7/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.52 million autocallable barrier notes with step-up premium on indexes
New York, April 8 – HSBC USA Inc. priced $1.52 million of 0% autocallable barrier notes with step-up premium due March 27, 2029 linked to the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a premium of 10.05% per year if the closing level of the worst performing index is greater than or equal to its initial level on any annual observation date.
The payout at maturity will be par if the worst performing index finishes at or above its 65% barrier. Otherwise, investors will lose 1% for every 1% that the worst performing index declines from initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable barrier notes with step-up premium
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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| Amount: | $1,515,000
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| Maturity: | March 27, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above barrier level par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
|
| Call: | Automatically at par plus a premium of 10.05% per year if the closing level of the worst performing index is greater than or equal to its initial level on any annual observation date
|
| Initial levels: | 39,475.90 for Dow Jones industrial average, 18,339.44 for Nasdaq-100, 2,071.998 for Russell 2000
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| Barrier levels: | 25,659.335 for Dow Jones industrial average, 11,920.636 for Nasdaq-100, 1,346.7987 for Russell 2000, 65% of initial levels
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| Pricing date: | March 22
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| Settlement date: | March 27
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| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 3.625%
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| Cusip: | 40447AL85
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